From the Information Given Below,calculate the Quick Ratio

question 22

Multiple Choice

From the information given below,calculate the quick ratio. Particulars
Amount (in $)
Particulars
Amount (in $)
Cash
20,000
Accounts payable
11,000
Notes receivable
15,000
Wages payable
5,000
Stock
5,000
Retained earnings
20,000
Inventory
6,000
Notes Payable
8,000

• A).83 times
• B)1.25 times
• C)1.63 times
• D)1.08 times

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Definitions:

Debit

To deduct, to charge; a charge added to existing balance.

Personal Identification Number

A unique numerical code used in securing access to accounts or systems, often a password or security measure.

Payee's Signature

The signature of the individual or entity entitled to receive payment on a financial document, such as a check.

Back Of A Check

The rear face of a check where endorsements are made, including the signature of the recipient, necessary for the check to be cashed or deposited.